The International Chamber of Commerce (ICC) and Carbon Measures have formally announced the appointment of Iván Duque, the former President of Colombia, as the inaugural Chair of the Advisory Group for the Technical Expert Panel (TEP). This strategic move is designed to accelerate the development of a globally standardized framework for carbon emissions accounting at the product level, addressing a critical gap in current environmental reporting and corporate sustainability efforts. The TEP, a collaborative initiative co-convened by the ICC and Carbon Measures, represents a significant step toward harmonizing how businesses, financial institutions, and regulators measure and report carbon footprints across complex international supply chains.
The appointment of Mr. Duque comes at a pivotal moment for global climate policy. As nations and corporations increasingly commit to "Net Zero" targets, the lack of a unified, transparent, and technically rigorous method for calculating emissions—particularly at the individual product level—has become a major hurdle. The TEP’s primary mission is to bridge this gap by bringing together a multidisciplinary cohort of experts from academia, financial accounting, heavy industry, and civil society. By appointing a former head of state with a proven track record in climate legislation, the ICC and Carbon Measures aim to elevate the technical work of the panel into the realm of global policy and high-level economic strategy.
The Mandate of the Technical Expert Panel and the Advisory Group
The Technical Expert Panel was established to solve the "fragmentation problem" in carbon accounting. Currently, various frameworks exist, such as the Greenhouse Gas (GHG) Protocol and various ISO standards, but their application can vary significantly by region and industry. This inconsistency often leads to "carbon leakage," where emissions are obscured through complex supply chains, or "greenwashing," where companies report favorable data based on selective methodologies.
The TEP’s work focuses on creating a "product-level" accounting regime. Unlike corporate-level accounting, which looks at a company’s total emissions, product-level accounting tracks the carbon intensity of specific goods from raw material extraction to final delivery. This granularity is essential for the implementation of carbon taxes, border adjustment mechanisms, and consumer-facing environmental labeling.
While the TEP handles the rigorous technical and mathematical formulations of the framework, the newly formed Advisory Group, led by Mr. Duque, is tasked with ensuring these technical conclusions are practical, politically viable, and business-relevant. The Advisory Group serves as a strategic bridge, facilitating engagement with policymakers and global business leaders to ensure that the framework can be adopted across diverse geographies and economic sectors.
A Legacy of Climate Leadership: The Background of Iván Duque
Iván Duque’s selection as Chair is rooted in his extensive experience at the intersection of economic development and environmental stewardship. Serving as the President of Colombia from 2018 to 2022, Duque positioned the South American nation as a regional leader in climate action. Under his administration, Colombia made one of the most ambitious commitments in the developing world, pledging to reduce greenhouse gas emissions by 51% by 2030 and to achieve full carbon neutrality by 2050.
These targets were not merely aspirational; they were codified into law through the 2021 Climate Action Law, which established a clear roadmap for the country’s energy transition and conservation efforts. Beyond his presidency, Duque’s career has been defined by a focus on sustainable finance. He spent over a decade at the Inter-American Development Bank (IDB), where he worked on initiatives related to social innovation and economic growth.
Since leaving office, Duque has remained a prominent figure on the international stage, working with the Bezos Earth Fund, Conservation International, and the Concordia Amazon Initiative. His role in the TEP Advisory Group will be held in his personal capacity, allowing him to leverage his diplomatic and economic expertise without the constraints of institutional affiliation.
"It is a great honour to join the ICC and Carbon Measures team, and contribute to accelerating the advancement of the highest standards in climate accounting," Mr. Duque stated following his appointment. He emphasized that the initiative would not only improve project quality but also enhance "transparency in the mobilisation of capital toward decarbonisation."
Supporting Data: The Urgent Need for Harmonization
The drive for a unified carbon accounting framework is supported by a growing body of economic and environmental data. According to recent reports from the Intergovernmental Panel on Climate Change (IPCC), global emissions must peak before 2025 and decline by 43% by 2030 to limit global warming to 1.5°C. However, the World Economic Forum has noted that while 80% of companies intend to increase their sustainability reporting, many struggle with "Scope 3" emissions—those that occur in the value chain but are not directly controlled by the company.
Current data suggests that for most consumer-facing companies, supply chain emissions (Scope 3) are on average 11.4 times higher than their direct operational emissions. Without a standardized product-level accounting framework, accurately measuring these emissions remains nearly impossible for many Small and Medium Enterprises (SMEs) that lack the resources for bespoke environmental audits.
Furthermore, the introduction of the European Union’s Carbon Border Adjustment Mechanism (CBAM) has created an urgent economic incentive for standardization. The CBAM will require importers to report the embedded carbon in goods such as steel, cement, and electricity. Without a globally recognized accounting standard, trade disputes are likely to increase as different nations use different metrics to calculate carbon "costs" at the border.
Strategic Perspectives from ICC and Carbon Measures
The leadership of the ICC and Carbon Measures has underscored that technical excellence is insufficient without broad-based stakeholder buy-in. Andrew Wilson, the ICC Deputy Secretary General, highlighted the importance of Duque’s role in navigating the political complexities of global trade and regulation.
"President Duque’s appointment marks an important step for this initiative," Wilson said. "His leadership and experience will help us build engagement across key stakeholder groups — advancing the wider conversation on the potential utility of a globally consistent product-level carbon accounting regime."
Amy Brachio, CEO of Carbon Measures, echoed these sentiments, noting that the "on-the-ground" reality of supply chains must inform the technical process. "Getting the technical work right is essential, but it’s only part of the equation," Brachio remarked. "If we want to build a carbon accounting framework that works across real-world supply chains, we need input from businesses, policymakers and other leaders who understand how it needs to work on the ground."
Brachio pointed to Duque’s firsthand experience in balancing economic growth with public policy as a critical asset. As the TEP moves its work forward, the Advisory Group is expected to expand, with additional members from diverse sectors and geographies to be announced in the coming months.
Chronology of the Initiative and Future Milestones
The formation of the TEP and the subsequent appointment of the Advisory Group Chair follow a series of international developments in climate reporting:
- 2021-2022: Increased pressure from the G7 and G20 for standardized climate disclosures leads to the formation of the International Sustainability Standards Board (ISSB).
- Early 2023: The ICC and Carbon Measures begin conceptualizing a panel that focuses specifically on the technical "how-to" of product-level carbon accounting, identifying a gap in existing corporate-level standards.
- Late 2023: The TEP is formally convened, drawing experts from global academic institutions and financial accounting firms to begin drafting technical frameworks.
- Early 2024: The need for a strategic "Advisory Group" is identified to ensure that the technical outputs of the TEP are adopted by national governments and international trade bodies.
- Current (Present Day): Iván Duque is appointed Chair of the Advisory Group. The next six months will focus on recruiting additional group members and initiating consultations with major industrial sectors.
- Looking Ahead: The TEP aims to release a draft framework for public consultation by the end of the year, with the goal of providing a blueprint that can be integrated into international trade agreements and national regulatory requirements.
Broader Impact and Implications for Global Trade
The implications of a successful, globally applicable carbon accounting framework are profound. For the financial sector, it provides a "common language" for ESG (Environmental, Social, and Governance) investing. Currently, "green" investment is often hindered by the difficulty of comparing the environmental impact of different assets. A standardized product-level metric would allow investors to allocate capital toward the most efficient and least carbon-intensive producers with greater confidence.
For the private sector, particularly in developing economies, a unified standard could prevent a "fragmented regulatory landscape" that creates barriers to entry in Western markets. If a manufacturer in South America or Southeast Asia can use a single, globally recognized carbon certificate to satisfy regulators in the EU, the US, and Asia, the cost of compliance drops significantly.
However, the path to harmonization is not without challenges. National interests, differing stages of industrial development, and the proprietary nature of supply chain data remain significant hurdles. The role of the Advisory Group under Mr. Duque will be to navigate these "real-world" frictions, ensuring that the TEP’s technical framework is not just a theoretical exercise but a transformative tool for the global economy.
By integrating high-level political leadership with rigorous technical expertise, the ICC and Carbon Measures are positioning the TEP to be the definitive voice in the next generation of climate accounting. As the world moves from making promises to measuring progress, the work of this panel will likely determine how the "carbon cost" of the global economy is calculated for decades to come.
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